Common location problems and how to deal with them
We constantly hear the phrase in real estate “location, location, location”, but what if you’re trying to sell a property that doesn’t quite tick that box? We believe that in order to sell, you need to strike a balance between price, condition and location; meaning that the price may have to accommodate for the bad location, or the condition of the house must make up the difference. It’s important that you speak to your selling agent first to get their insight and guidance on where to price your property in the market, depending on your property.
Train lines and busy roads:
Owning a house situated near train lines can be an issue for buyers due to the noise and general look of them. Speak to your agent and get their feedback on how severe the problem is first, and see if they would advise looking into fencing and screening options that would best suit your particular property, to help reduce the noise or partially block the outlook from the home.
We also recommend planning your open house inspections
times when the train schedule is at its most quiet, avoiding peak travel
periods like the work commute, or at times on weekends when there is an event on. Same
goes for busy roads; try and avoid times traffic will be more congested.
It might also be worth asking some friendly neighbours to lend a hand with this one and have potential buyers get in touch with them to assure them that the pros of the house and neighbourhood outweighs the cons of being near train lines or main roads.
Unknown/undeveloped block by your property:
Many buyers get a bit nervous about investing in a home with an undeveloped block next door, as no one wants to discover once it’s too late that a towering apartment block or service station is due for construction.
One of the first questions they’ll have for you is what is planned for next door, so in this case it’s always best to go to the council first to determine what type of building is planned for the block prior to putting your home on the market. That way you can discuss and strategize with your real estate agent about how to work around it.
There’s not a lot you can do about being in a “bad neighbourhood” as buyers are savvy and will do their research. The unavoidable truth is that your location will be reflected in the sale price of your home, so all you can do is try and make your home as appealing to potential buyers as possible.
If security is an issue, discuss with your agent if getting an updated security system will help reassure prospective buyers. A secure front gate, hedges or screening plants can help partially block the neighbours, so speak to your real estate agent to see if this is right for you.
If you know your neighbours like to sit out the front in the afternoon and blare their music, work around that by scheduling your home opens to avoid these times.
Screen with trees:
If your property has views of unsightly telephone pylons, overlooking neighbours, train lines, or a busy main road, we recommend investing in mature trees or hedges to create a privacy screen. Even if the plants are not yet mature, most buyers will appreciate the measure. Adding greenery is also a great way to disguise problematic areas, whilst adding colour and life to your property.
If noise is a big issue in your area, it might be worth considering some noise reduction measures. Depending on your budget, insulating the roof and walls, double glazing windows, or installing noise reducing window coverings to areas that are most affected, may be a good idea.
A front fence and screening plants can also provide a partial barrier against the noise, and also helps block out the less-than-desirable view.
We recommend conducting a cost-benefit analysis to figure out the best option for you and discussing this first with your real estate agent to see if it will be worth the expense for you as some of these measures can be quite costly. Then again, it might be something you will use and appreciate yourself in the meantime.
The main thing to remember is that you want to play up the positives and downplay the negatives of your home. By controlling what you can in your home in terms of looks, styling, security and screening, you can help optimise the sale of your home.
For leading marketing and a competitive edge, speak to your local Peard Real Estate agent today or visit www.peard.com.au for more information.